Oct 6, 2012 11:00am PDT
. but some nay sayers wonder if it is too good to be true. jack welch, former ceo, tweets unbelievable jobs numbers, the chicago guys will do anything, can't debate, so change numbers. and one group suggested maybe somebody played with the numbers. >> very good timing for the president. if he mapped it out to be able to have it, this is one you would want to have. he placed the unemployment as the longest time in history knew. >> but the labor department scoffed at the notion that anybody manipulated the jobs report. >> it is collected by the interviewers who are all career federal employees. so you would have to imagine that the people who participate in the survey, and they do this voluntarily, are for some reason trying to manipulate things. >> and it is not unusual for the surveys, one based on asking the companies, the other based on asking individuals, to have a wide difference, why? the household survey shows all sorts of workers, including self-employed and certain agriculture workers. and it is based on a much smaller sample than the other businesses. keith hall says that the numbe
Oct 5, 2012 5:30pm PDT
, rush limbaugh and other conservatives said the white house had cooked the books. even jack welch, the former ceo of ge, went on twitter to accuse the president of changing the numbers. >> i tell you, these numbers don't smell right when you think about where the economy is right now. >> reporter: the labor department called the allegations ludicrous. we went directly to the place where it's all done. this vast government building, a couple of miles from the white house, houses the labor department's bureau of labor statistics. the bls has been tabulating the monthly unemployment rate for more than 70 years. it's all based on a survey conducted in person and over the phone of 60,000 households every month. and here is where the numbers get crunched. amid a sea of high-walled cubicles, inside of each one, an economist sworn to secrecy and working on a specific aspect of that employment survey. tom nardone is in charge here. he's worked at bls since before ronald reagan was president. he introduced us to the economist who actually wrote this morning's unemployment rate announcement.
Oct 5, 2012 9:00am PDT
. >> christy, some of the attacks from conservatives, such as jack welch, saying they don't believe the numbers. they believe the books are cooked essentially. explain the process of how we reach these numbers today? >> there's spin, and then there are conspiracy theories, and the spin, which is valid, if spin can be valid, is that, you know, look, you still have only 114,000 jobs created on balance. anha's -- you know, you th ty pu together. right? one of them is a survey of people at home where you call anthpele s yes or no and explain how. the other is a survey of employers where they ask are you hiring? that's where the 114,000 number comes om114,000 number might not catch everyone who is working part-time from home or just working part-time or doing some kinds of contract work, so that's why sometimes thercran bwe no, they're noin t bt of bls cooking the books for some political reason. i would bring this one point, suzanne, if they were, wouldn't they have done that after the president gave his speech in charlotte? instead he gave a speech in charlotte, and it was a bad report the next d